UFIDA Announces RMB 100 Mln Acquisition & Investment Plan
China Securities Journal, 12/23/09
Chinese enterprise management software developer UFIDA (600588.SH) has announced a plan for a series of acquisitions and investments totaling over RMB 100 mln.
In order to hasten development of the company's pharmaceutical logistics and retail software business, UFIDA plans to acquire the assets and operations of Beijing SpaceTime Science & Technology Co., Ltd. for a price of RMB 42 mln. With registered capital of RMB 5 mln, SpaceTime is primarily engaged in pharmaceutical logistics and retail software development and marketing.
In order to boost the company's government software business, UFIDA plans to buy a 10.5% stake in Beijing Ufida Government Software Co., Ltd. from its general manager, Wang Xianchen, at a price of RMB 24.85 mln. After the sale, UFIDA will hold a 78.5% stake in the subsidiary.
To speed development of Beijing UFIDA Cellsoft Technology's intelligent commerce business, UFIDA will also inject another RMB 30 mln into the subsidiary.
To accelerate development of the company's construction management informatization business, UFIDA also plans to invest another RMB 2 mln into Beijing Huajian Youlian Information Technology, a new company that was registered on November 5, 2009, which primarily engages in consulting on building construction management informatization, implementation, and project payment. Of the RMB 2 mln, RMB 444,445 will go to the company's registered capital, with the remaining RMB 1.56 mln going toward the company's reserve fund.
UFIDA also plans to acquire the operations and related assets of Jining-based ERP software provider Goldnet for a price of just under RMB 365,000.
Keywords: enterprise software SpaceTime Ufida Government Software Wang Xianchen UFIDA Cellsoft Huajian Youlian Goldnet investment software UFIDA 600588.SH M&A
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